Inside Hut 8’s AI ambitions after securing $150M in funding

Several bitcoin miners have become increasingly vocal about their diversification strategies post-Bitcoin halving, with many venturing further into AI.

Hut 8 is among them, recently revealing it would look to build out its high-performance computing (HPC) vertical to support AI applications.

The company said Monday it had secured $150 million in funding through a convertible note from tech-focused investment firm Coatue Management. The investor deems the miner “well-positioned to accelerate new compute capacity” and advance the AI segment.   

Indeed, Hut 8 CEO Asher Genoot told Blockworks he sees “hundreds of megawatts of opportunity” to build upon the miner’s existing…

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